And thinking out loud but if this task force is being created either because the DOJ hasn’t done an investigation, or because the 3 yr DOJ investigation is a failure, how does Holder keep his job? I think we have an idea.

And as Neil Barofsky, Former IG for TARP, put it “So, since this state AGs have done such a thorough job on robosigning, we’re now reassigning 3yrs of DOJ fed securities fraud to them? Plz”

I wasn’t willing to provide a release that … released conduct that hadn’t been investigated, essentially. So we started our own investigation.

– Eric Schneiderman, New York attorney general

HuffPO-

During his State of the Union address tonight, President Obama will announce the creation of a special unit to investigate misconduct and illegalities that contributed to both the financial collapse and the mortgage crisis.

The office, part of a new Unit on Mortgage Origination and Securitization Abuses, will be chaired by Eric Schneiderman, the New York attorney general, according to a White House official.

Schneiderman is an increasingly beloved figure among progressives for his criticism of a proposed settlement between the 50 state attorneys generals and the five largest banks. His presence atop this new special unit could give it immediate legitimacy among those who have criticized the president for being too hesitant in going after the banks and resolving the mortgage crisis. He will be in attendance at Tuesday night’s State of the Union address.

“The goal of this joint investigation will be threefold: to hold accountable any institutions that violated the law; to compensate victims and help provide relief for homeowners struggling from the collapse of the housing market, caused in part by this wrongdoing; and to help us finally turn the page on this destructive period in our nation’s history,” reads a White House document outlining the objectives.